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July 4, 2003
FOR IMMEDIATE RELEASE
Contact Roland Boucher
14252 Culver Drive #728, Irvine CA 92604
949-552-9174 or Roland@CalSimpleTax.org
IRS Announces New 10% flat rate income tax; no citizen who earns less than the salary of a congressman need pay more.
Donít hold your breath!
My friends, no matter how hard we wish it were true, there is little we can do about Federal Tax Rates. Fortunately, those of us who live in California have a secret weapon ... the voter initiative process. With it we can undo any idiotic rule or regulation our elected Legislature and Governor attempt to impose on us.
Today our California tax code imposes a tax rate of 9.3 percent on middle class citizens who earn less than half of the $100,000 salary our legislature pays itself.
Meanwhile they have created so many loopholes and tax credits for their favorite campaign contributors that the average tax collected by all Californians who earn under $100,000 is less than 2 percent. This is an outrage!!
But wait ... Help is on the way!!
The CAL Simple Tax Committee is circulating an initiative petition to limit the tax rate to 2.5 percent for every California family which earns less than $100,000. It will also grant each family a generous standard deduction equal to one years earning at the minimum wage ($14,040). Since the state collects about 1/4 of the taxes collected by the IRS in California this initiative is equivalent to the 10% tax of our tongue in cheek announcement.
But wait ... Wonít this bankrupt the state??
Hardly; while many middle class taxpayers will see a substantial reduction in their taxes, State tax revenue will be reduced by less than 1 percent. The problem with Californiaís budget is spending, not revenue. California personal income tax collections nearly doubled since Governor Gray Davis was elected. It was spending that spiraled out of control. If spending had been held to the same levels they were when Governor Davis took office, we would be facing a 20 billion dollar surplus - not a 38 billion dollar deficit.
My friends, we canít force the legislature to act as responsible stewards of the public purse, but we can, through the initiative process, treat them like the spoiled brats that they collectively are, and put them on an allowance. Our initiative petition is designed to do just that. Please help yourself to responsible taxation, sign our petition and ask your friends to do so as well. The power is in your hands.
Roland Boucher, Chairman
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